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Diamondback Energy (FANG) Gains But Lags Market: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $141.95, marking a +0.33% move from the previous day. The stock lagged the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Prior to today's trading, shares of the energy exploration and production company had gained 5.42% over the past month. This has outpaced the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. The company is expected to report EPS of $5.92, up 63.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.21 billion, up 9.39% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.84% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 5.84. For comparison, its industry has an average Forward P/E of 4.79, which means Diamondback Energy is trading at a premium to the group.
We can also see that FANG currently has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.18 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.
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Diamondback Energy (FANG) Gains But Lags Market: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $141.95, marking a +0.33% move from the previous day. The stock lagged the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Prior to today's trading, shares of the energy exploration and production company had gained 5.42% over the past month. This has outpaced the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. The company is expected to report EPS of $5.92, up 63.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.21 billion, up 9.39% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.84% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 5.84. For comparison, its industry has an average Forward P/E of 4.79, which means Diamondback Energy is trading at a premium to the group.
We can also see that FANG currently has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.18 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.